Section 1
Short title, application and commencement.
The Government Securities Act, 2006
About this Act
An Act to consolidate and amend the law relating to Government securities and its management by the Reserve Bank of India and for matters connected therewith or incidental thereto.
(1) This Act may be called the Government
Securities Act, 2006.
(2) This Act applies to Government securities created and issued whether before or after the commencement of this Act by the Central Government or a State Government.
(3) It applies in the first instance to whole of the States, except the State of Jammu and Kashmir, and to all the Union territories and it shall also apply to the State of Jammu and Kashmir which adopts this Act by resolution passed in that behalf under clause (1) of article 252 of the Constitution.
(4) It shall come into force in all the States, except the State of Jammu and Kashmir, and in the Union territories on such date1 as the Central Government may, by notification in the Official Gazette, appoint and in the State of Jammu and Kashmir which adopts this Act under clause (1) of article 252 of the Constitution, on the date of such adoption; and any reference in this Act to the commencement of this Act shall, in relation to any State or Union territory, means the date on which this Act, comes into force in such State or Union territory.
(2) This Act applies to Government securities created and issued whether before or after the commencement of this Act by the Central Government or a State Government.
(3) It applies in the first instance to whole of the States, except the State of Jammu and Kashmir, and to all the Union territories and it shall also apply to the State of Jammu and Kashmir which adopts this Act by resolution passed in that behalf under clause (1) of article 252 of the Constitution.
(4) It shall come into force in all the States, except the State of Jammu and Kashmir, and in the Union territories on such date1 as the Central Government may, by notification in the Official Gazette, appoint and in the State of Jammu and Kashmir which adopts this Act under clause (1) of article 252 of the Constitution, on the date of such adoption; and any reference in this Act to the commencement of this Act shall, in relation to any State or Union territory, means the date on which this Act, comes into force in such State or Union territory.
Notes
1. 30th November, 2007, vide notification no. S.O. 2020, dated 1st December, 2007, see Gazette of India, Extraordinary, Part II,
sec. 3(ii).